Apple Shares Drop: iPhone 5 Jitters Setting In?

The unfathomable just took place: Apple shares fell sharply on Monday.

Of course this isn’t actually an unfathomable development. But considering the way Apple shares have rallied over the years, a sharp decline can often feel that way.

The stock — which had gone nearly straight up since hitting new all-time highs last month — finished down more than 2% just two days before Apple is expected to unveil a new iPhone.

Considering the stock’s sharp rally throughout the last few weeks, a little profit taking doesn’t come as a total shocker. And before panic ensues, it’s worth pointing out this selloff barely causes a dent in Apple’s yearlong rise, (the stock is still up 64% in 2012).

But to some chart watchers, there could be some underlying technical factors behind today’s drop that could portend more trouble ahead.